NAIC Urged To Do Full Review Of Illustrations; Regulators Demur
November 6, 2019 by John Hilton
Insurance commissioners tabled a proposal today to create a working group with a charge aimed at completing a comprehensive and coordinated review of annuity and life insurance illustrations.
Birny Birnbaum, executive director of the Center for Economic Justice, is proposing a Life Insurance and Annuity Illustration Working Group. The new group would take the place of the Annuity Disclosure Working Group, but also pick up parts of illustration-related work assigned to at least three other working groups, Birnbaum said.